"And now," broke out Guy, who had apparently been restraining himself with difficulty; "perhaps you'll tell me if you are really in earnest."

Tony slit open the envelope and pulled out its contents.

"Of course I'm in earnest," he answered. "I was never so—" He paused abruptly, and his lips screwed themselves up into a sudden low whistle of amused amazement. "By Jove, Guy!" he exclaimed; "look at this!"

He held out the sheet of note-paper, and then thrusting his hands into his pockets, watched his cousin's face as the latter read through the following missive.

MY DEAR SIR ANTONY CONWAY:

I much regret that I was unable to find time to say good-bye to you before leaving England.

You have a proverb I believe in your delightful language to the effect that he laughs loudest who laughs last. You will now be able to appreciate its profound truth.

Always yours sincerely,
DA FREITAS.

CHAPTER XVIII
THE ROYAL PASS